Payday loans

Wells Fargo To Test $3 A Month Debit Card Fee

08/17/2011 12:55 pm 3 comments

Source: CNN Money

New York- Yet another of the nation’s top banks is flirting with the idea of charging a monthly fee to customers who use debit cards.

Wells Fargo (WFC, Fortune 500) said Tuesday it will start charging a $3 monthly fee for debit card usage to customers in Georgia, New Mexico, Nevada and Oregon beginning Oct. 14.

“We regularly review our pricing and take into account the needs of our customers, industry trends, the market competition, and our cost of doing business,” a Wells Fargo spokeswoman said. Customers who don’t use their card during the month won’t be charged the fee and the fee will be waived for select accounts, she added.

At the end of last year, JPMorgan Chase (JPM, Fortune 500) announced a similar test, in which it charged customers in northern Wisconsin a $3 fee for using their debit cards. The tests are still underway, a Chase spokesman said Tuesday.

To read this article in its entirety visit CNN Money.

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  • Mamahall99

    I was going to move more of my money into my Wells Fargo checking, that changes my mind.

  • Mamahall99

    I was going to move more of my money into my Wells Fargo checking, that changes my mind.

  • ConcrndStdnt&Ctzn

    Where do they think we get our money from trees grown in our backyard. Soon we will be paying a fee for withdrawing money from our accounts. I was going to open an account with them but I am not going to do it now. Soon enough it will be better to keep money under your mattress. Interest rates aren’t as good what next?

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